The insurer recently purchased wellbeing bonds worth $6 million.
The bonds were issued by Housing New Zealand, as part of its broader Sustainability Financing Framework, and are a type of sustainability bond which helps fund investment in new or upgraded sustainable social housing.
“We’ve chosen to invest in the bonds because access to affordable housing helps build strong, resilient communities. Investing in these types of bonds will help Housing New Zealand develop more healthy, sustainable homes,” said Jimmy Higgins, chief financial officer, Suncorp New Zealand.
Housing New Zealand intends to allocate the net proceeds from the bonds to finance or refinance eligible projects such as building green and affordable housing. The projects are aligned to the Living Standards Framework and support or contribute towards meeting the United Nations Sustainable Development Goals.
"Our investment lens is increasingly focused on opportunities that can deliver positive social outcomes. Wellbeing bonds are an important instrument in achieving this," Higgins said.
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